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China's internet development at 'halftime' stage

By Cheng Yu | chinadaily.com.cn | Updated: 2019-07-12 15:58

Feng Dagang, president of 36Kr, a leading provider of integrated services for technological innovation and startup companies, speaks during the 2019 WISE conference organized by 36Kr in Beijing, on July 9, 2019. [Photo/IC]

China's internet development is arriving at a halftime where "super-evolutionists" are poised to grab a piece of cake amid the cutthroat competition in the country, according to industry insiders.

"The country's internet development, which has developed for more than 20 years, has entered halftime stage, where the dividends from the first half have gone but that of second half haven't arrived," said Feng Dagang, president of tech media 36Kr.

He rejected claims that the country's internet development has entered into the next stage, saying that every company is clear of what is ahead.

"We have seen that major internet giants are all making their strategic adjustments while venture capitals are holding back to see what happens next," said Feng at the 2019 WISE conference held by 36Kr focused on new business trends and opportunities.

In the halftime stage, Feng said those who can better adapt to the new trends can survive, which, according to him, will be "super-evolutionists".

Lin Jinghua, vice-president of Tencent Holdings Ltd, agreed with Feng. He pointed out that the next stage in internet business is a "human-based structural evolution" where both users and company employees are participants.

"Tencent used to do more on linking people, yet the future focus will be linking people with businesses to create more value for more people and industries," he said.

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